Target and Ross raise Q3 outlook
New York City Target said Thursday its same-store sales dipped 1.7% in September, beating analysts’ estimates. The retailer also said it expects its third-quarter earnings to come in above the consensus estimate, but that it remains cautious about its fourth-quarter expectations.
At Ross Stores, September same-store sales rose 8%. Analysts, on average, had expected same-store sales to rise 7.2%. The retailer also raised its third-quarter earnings forecast.
In other discount results:
- Fred's said Thursday sales in stores open at least a year rose 3.3% in September, beating analyst expectations.
- Duckwall-ALCO Stores said its same-store sales edged down 0.4% in September.